3 easy steps to collecting coins to make a profit

by: Mike Johnson   |   Tuesday, August 3, 2021   |   1 Comments

" data-overlay="0.5" data-trigger="video_popup" class="btn btn-apple"> Watch Video

If you are new to the business of numismatics and want to get in and out with a decent profit then watch the US Mint

If your patient and do some homework you will find the US Mint periodically sells coins that are in very high demand such as the 2020 W $50 Gold Eagle with V75 Privy Mark , If you were lucky enough to process an order the coin cost you $2,500.00 which today graded sells in the $16,000 plus range, or the 2020 W Silver Eagle V75 with a mintage of 75,000. I don't recall exactly what it sold for but it seems like it was in the $70-$80 range. Today, graded it is selling at $400 plus, or the 2019 S Silver Eagle Enhanced Reverse Proof with a mintage of just 30,000 coins. I don't recall the exact price on that one either but I think it was under $100. Today, graded it sell in the $2,500 range. Note the coins selling at these price ranges are the PF70 or MS70 grades. An ungraded coin will not sell as high but there is still money to be made.

So what do you look for? Low Mintage, Also watch for market indicators such as eBay presales and recently larger redistributors advertise instant buybacks. Its not the lifeblood of numismatics but for a quick intro into the market and a fast profit then there you go.

So here are the 3 easy steps

Monitor the sales schedules of the US Mint, Set up an account and be prepared to buy, Chances are you will be competing with 10s of thousands of other people trying to buy the same coins so be persistent.

Do your homework - check to see the level of market interest before buying. - then, don't be late or you will definitely miss out. Finally, if you are lucky enough to make it through the phone lines and place an order then consider sending it in the PCGS or NGC for grading. After that - keep or sell? Its all up to you.

(1) Comments